On Tuesday, Mercury EV Tech’s stock gained attention by rising 7%, hitting an intraday high of ₹61. This surge followed a major business update from the company.
Mercury EV Tech announced that it is contributing to India’s clean energy goals by setting up a large battery manufacturing plant in Vadodara.
Along with this news, the company also shared its future business plans.
New Battery Plant Details
The company stated in an official filing that its wholly-owned subsidiary, Powermatz Energy Private Limited, will build a 3.2 GW lithium-ion battery production facility in Vadodara.
To support this project, Mercury EV Tech has ordered a fully automated, high-capacity production line from a leading equipment supplier in China.
A technical team from India will visit the supplier’s facility in China on April 15, 2025, before the machinery is shipped to India.
The equipment is expected to arrive in Vadodara by the end of April, and pilot production is scheduled to begin by mid-May 2025.
Stock Performance Snapshot
Despite the recent rise, the company’s stock has seen a drop of 33% in 2025 so far. Over the last six months, it has fallen by 50%, and over the past year, it’s down by 30%.
However, the long-term performance has been remarkable. In the past five years, the stock price has grown from just ₹0.38 to its current level, delivering a massive return of around 16,000%.
